CMBS comeback is slowly moving to middle-market loans

07/6/2010 | Crain's Detroit Business

Commercial mortgage-backed securities are slowly thawing for Detroit-area assets -- but only for the most conservative transactions. Institutions such as Wells Fargo and the Bernard Financial Group have underwritten several deals in the area, including the CMBS loan for Tower I and Tower II in the Columbia Center complex that was reported to be as much as $42 million. Middle-market loans -- in the $7 million to $12 million range -- are not moving as quickly, says Dennis Bernard of the Bernard Financial Group.

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